• Group sales EUR 3.8 billion (- 3%)
• EBITDA: EUR 462 million (- 4%)
• Group earnings before taxes on income and earnings: EUR 108 million (- 30%)
• Number of employees 10,490 (+ 1%) (employees on average per year incl. trainees) 

Friedrichshafen/Garching. The Zeppelin Group finished a successful 2024 financial year, with sales of EUR 3.82 billion (2023: EUR 3.9 billion), an EBITDA of EUR462 million (previous year: EUR 482 million) and earnings before taxes of EUR 108 million (previous year: 154 million euros) was largely completed successfully. In December 2024, Zeppelin signed a contract to acquire Pepp Group BV, and thereby take over Pon Holdings' sales and service organizations for Cat construction equipment, rental solutions, and traction and energy systems in Norway and the Netherlands. The largest acquisition in the company’s history is expected to be completed by the summer of this year. Zeppelin will thus increase its sales to over five billion. A gradual integration is planned from mid-2025. 

“The 2024 financial year was a challenging year for the Zeppelin Group, characterized by unfavorable market developments, sustained margin and cost pressures, as well as various extraordinary factors,” explains Matthias Benz, Chairman of the Management Board of the Zeppelin Group. "This makes it all the more evident how strong and resilient our business model is. Thanks to the remarkable commitment of our employees, close collaboration with our customers, and targeted measures to safeguard earnings and increase efficiency, we were able to make important strategic progress and create a promising basis for future growth despite difficult conditions.”

Christian Dummler, Managing Director and CFO of the Zeppelin Group, states, "Declining markets, rising costs and sustained high inventories led to a result below the previous year’s level. Despite this, we were able to successfully counteract the effects of the economic downturn by taking decisive action to stabilize profitability, report a slight increase in new orders and make important investments thanks to a very good cash flow. The fact that Creditreform Rating AG has once again assessed our creditworthiness with an overall "A" rating confirms the Group’s financial stability. This positive assessment is a clear sign of the robustness of our business models, particularly in view of the marked reluctance to invest, geopolitical tensions and ongoing high interest rates."

"Despite a challenging market environment, Zeppelin once again created substantial value in the 2024 financial year. The sustainable increase in corporate value and the reliable contribution for our shareholders – the Zeppelin Foundation and Luftschiffbau Zeppelin GmbH – underline the Group’s economic stability and strategic foresight," says Simon Blümcke, Chairman of the Supervisory Board of the Zeppelin Group.

The largest acquisition in the company’s history

Zeppelin will take over the distribution and service of Cat construction machines, rental solutions and drive and energy systems from Pon Holdings in Norway and the Netherlands. The transaction includes around 20 companies in Norway and the Netherlands with a portfolio of new and used machines, drive and energy systems, servicing and spare parts, as well as solutions for equipment rental and associated services. The acquisition means Zeppelin Group is growing by 2,000 employees and around €1.1 billion in sales, making it one of the leading Caterpillar distribution and service organizations worldwide and a company with an even greater international footprint.

Strategic Business Units (SBU) development

The Construction Equipment Germany/Austria SBU recorded a slight decline in sales in the 2024 financial year. After two record years, the construction machine markets experienced a decline. Residential construction and the supply industry in particular experienced a sharp decline, while civil engineering remained robust due to ongoing major projects. Despite regional challenges, the Baumaschinen International SBU showed robust business development last year. In Europe, market shares were expanded and sales increased, supported by infrastructure projects and strengthening the aftersales business.

In almost all markets, demand for rentals developed slowly, stagnated or declined due to the crisis. An important task was integrating the Danish company CP ApS, which was acquired in 2023.

In 2024, the Power Systems SBU recorded a decline in the market for industrial engines and a lower willingness to invest in combined heat and power plants. The market for grid replacement systems and decentralized energy solutions, on the other hand, recorded high demand at home and abroad. The heat pump market grew slower than forecast.

The Plant Engineering SBU made progress in international cooperation and technological development in 2024. This enabled it to leverage synergies and advance digital solutions. These strategic measures will be pursued further. Zeppelin strengthened its market position in the battery technology sector.

Optimistic outlook for the 2025 financial year

The Zeppelin Group is celebrating its 75th anniversary in 2025: Founded in 1950 under the name “Metallwerke Friedrichshafen,” it succeeded the Luftschiffbau Zeppelin GmbH airship factory and was entered into the commercial register that same year. This anniversary marks a special milestone in the company’s history and underlines Zeppelin’s long-standing tradition and innovativeness. An important industry event is also coming up in April: bauma 2025– the largest trade fair for the construction industry worldwide. Under the motto “The next 100 years,” Zeppelin and Caterpillar will present innovative solutions to the trade show audience.

The coming year will be a challenging financial year in terms of geopolitical and economic conditions. The general economic slowdown is also evident in the construction machinery sector. While the rental market is currently declining slightly, a gradual recovery is expected over the course of the year. At the same time, positive business prospects are emerging internationally, particularly in raw materials extraction, mining and publicly funded road and residential construction. The Power Systems business segment benefits from a robust market environment and opens up additional potential in alternative drive technologies. There is also an increasing demand for sustainable solutions and process automation in plant engineering. In addition, the Group sees clear growth opportunities in the energy market. By strategically focusing on integrated complete solutions with its own added value, Zeppelin wants to further strengthen its position in this segment.

“Effective measures to safeguard results, consistent cost discipline and the willingness to create global synergies will be crucial for the success of the Zeppelin Group in the coming financial year,” says Matthias Benz. 

Key figures at a glance

Caption:

Zeppelin Group Management Board: Alexandra Mebus, Matthias Benz, Christian Dummler
(from left to right)

© Zeppelin GmbH

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